The Pound has remained strong against the Australian Dollar during the course of the week and I think we could see some further gains coming for the Pound.
The recent US economic data has showed a couple of lower than expected data releases including Services and Durable Goods orders and this has provided evidence that the US economy may be slowing down a little.
The releases in my opinion are not really a big cause for concern but it does show that things are not going as well as expected.
The US Federal Reserve have almost guaranteed that they will be raising interest rates at next month’s meeting but with this week’s data this could see a slowdown of policy during 2018.
Whenever the US displays signs of a slowdown it tends to weaken commodity based currencies including the Australian Dollar and this is one of the reasons for the Pound making gains vs the Australian Dollar in recent times.
Turning the focus back down under the Reserve Bank of Australia has recently stated they will be keeping monetary policy the same for a long time to come as wage pressures have come onto the agenda.
With only a few weeks before the end of the year the Pound is now trading at its best rate to buy Australian Dollars since May and I think depending on how the Brexit talks go in the next fortnight I think we could see further gains for GBPAUD exchange rates.
If you have a need to make a currency transfer in the coming days, weeks or months then feel free to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency compared to your bank or another currency broker.
Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on [email protected] and I will respond to you as soon as I can.